The Federal Trade Commission has reported that social media ad scams caused more than $90 million in losses last year. Nearly 30% of people who reported losing money said this began on social media. Reports also indicated that people reported losing more money to scams on Facebook than any other social media platform. In addition, nearly 60% of people who reported losing money to a romance scam in 2025 said it started on social media. The FTC advises consumers limit who can see your posts and contacts on social media and never let someone you have met only on social media direct your investment decisions.